i don't think that's going to have that big an impact on the treasury markets. right now, there's a flight to quality and everybody is coming to the u.s. i think with more important and with the markets will be looking for is how this is handled politically. if the debt ceiling is raised and it's a big victory for president obama, because the republicans play into his hands, then i think it's going to spell, you know, looking forward that there's not going to be any structural changes, that we are going to have our tax increases and so forth. but if the republicans give this to president obama and say, look, we did our best. we wanted to cut spending, we wanted to cut taxes, and you didn't let us. and if president obama is forced to own that, then in november, 2012, there will be a referendum on that question. >> james, i can't help, but think that if we are downgraded, our financial reputation, our standing in the world, takes a hit. so, you know, i press that question, is a downgrade looking ever more likely? >> well, i think whether or not moody's and standar